Exhibit 99.2
Schedule 1
CINERGY CORP.
CONSOLIDATED STATEMENTS OF INCOME
For the Periods Ended December 31, 2005 and 2004
(unaudited)
(dollars in thousands, except per share amounts)
| | Quarter Ended | | Year To Date | |
| | 2005 | | 2004 | | 2005 | | 2004 | |
| | | | | | | | | |
Operating Revenues | | | | | | | | | |
Electric | | $ | 1,118,974 | | $ | 849,260 | | $ | 4,070,972 | | $ | 3,510,525 | |
Gas | | 340,013 | | 259,090 | | 816,781 | | 783,316 | |
Other | | 169,724 | | 94,741 | | 522,095 | | 333,988 | |
Total Operating Revenues | | 1,628,711 | | 1,203,091 | | 5,409,848 | | 4,627,829 | |
| | | | | | | | | |
Operating Expenses | | | | | | | | | |
Fuel, emission allowances and purchased power | | 466,654 | | 307,528 | | 1,535,088 | | 1,233,311 | |
Gas purchased | | 218,555 | | 137,359 | | 513,690 | | 428,087 | |
Costs of fuel resold | | 145,664 | | 77,450 | | 443,132 | | 280,891 | |
Operation and maintenance | | 349,670 | | 304,333 | | 1,348,554 | | 1,230,618 | |
Depreciation | | 129,780 | | 124,810 | | 510,438 | | 453,765 | |
Taxes other than income taxes | | 62,894 | | 49,625 | | 272,009 | | 253,934 | |
Total Operating Expenses | | 1,373,217 | | 1,001,105 | | 4,622,911 | | 3,880,606 | |
| | | | | | | | | |
Operating Income | | 255,494 | | 201,986 | | 786,937 | | 747,223 | |
| | | | | | | | | |
Equity in Earnings of Unconsolidated Subsidiaries | | 8,571 | | 30,154 | | 33,777 | | 48,249 | |
Miscellaneous Income (Expense) - Net | | 16,968 | | 7,695 | | 51,001 | | (3,577 | ) |
Interest Expense | | 73,733 | | 65,659 | | 283,353 | | 275,000 | |
Preferred Dividend Requirement of Subsidiary Trust | | — | | — | | — | | — | |
Preferred Dividend Requirements of Subsidiaries | | 324 | | 858 | | 2,643 | | 3,432 | |
| | | | | | | | | |
Income Before Taxes | | 206,976 | | 173,318 | | 585,719 | | 513,463 | |
| | | | | | | | | |
Income Taxes | | 15,137 | | 26,860 | | 95,597 | | 103,064 | |
| | | | | | | | | |
Income Before Discontinued Operations and Cumulative Effect of Changes in Accounting Principles | | 191,839 | | 146,458 | | 490,122 | | 410,399 | |
Discontinued operations, net of tax | | 858 | | (32 | ) | 2,575 | | (9,531 | ) |
Cumulative effect of changes in accounting principles, net of tax | | (3,044 | ) | — | | (3,044 | ) | — | |
Net Income | | $ | 189,653 | | $ | 146,426 | | $ | 489,653 | | $ | 400,868 | |
| | | | | | | | | |
Average Common Shares Outstanding - Basic | | 199,557 | | 183,455 | | 198,199 | | 180,965 | |
| | | | | | | | | |
Earnings Per Common Share - Basic | | | | | | | | | |
Income before discontinued operations and cumulative effect of changes in accounting principles | | $ | 0.96 | | $ | 0.81 | | $ | 2.47 | | $ | 2.27 | |
Discontinued operations, net of tax | | 0.00 | | — | | 0.01 | | (0.05 | ) |
Cumulative effect of changes in accounting principles, net of tax | | (0.01 | ) | — | | (0.01 | ) | — | |
Net Income | | $ | 0.95 | | $ | 0.81 | | $ | 2.47 | | $ | 2.22 | |
| | | | | | | | | |
Average Common Shares Outstanding - Diluted | | 200,324 | | 186,369 | | 199,172 | | 183,531 | |
| | | | | | | | | |
Earnings Per Common Share - Diluted | | | | | | | | | |
Income before discontinued operations and cumulative effect of changes in accounting principles | | $ | 0.96 | | $ | 0.79 | | $ | 2.46 | | $ | 2.23 | |
Discontinued operations, net of tax | | 0.00 | | — | | 0.01 | | (0.05 | ) |
Cumulative effect of changes in accounting principles, net of tax | | (0.01 | ) | — | | (0.01 | ) | — | |
Net Income | | $ | 0.95 | | $ | 0.79 | | $ | 2.46 | | $ | 2.18 | |
| | | | | | | | | |
Cash Dividends Declared Per Common Share | | — | | $ | 0.47 | | $ | 1.92 | | $ | 1.88 | |
Note: Prior year data has been reclassified to conform with current year presentation.
